But they also warn that shoppers are unlikely to find the usual last-minute price cuts in the days before Christmas.

Why? To compensate for soft sales throughout the past year, retailers are keeping inventories low to prevent stock from languishing on shelves. Black Friday and Cyber Monday — the weekdays immediately after Thanksgiving — promise shoppers the deepest discounts.

"What that means to the consumer is that if you look at an item and decide not to buy it, there's a good chance it won't be there (next) month," says Kathy Grannis with the National Retail Federation.

According to the federation's 2009 Holiday Consumer Intentions and Actions Survey, American consumers will spend about $683 on holiday shopping this year, which is down from last year's average of about $705.

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" 'Tis the season for negotiation," says Jennifer Leah, a consumer-education specialist with the Federal Trade Commission. "I redid my bathroom recently, and Home Depot honored a Lowe's coupon that I've had sitting around for six years."

Consumers can expect other retailers to do the same.

"The more expensive the item . . . the more open the store will be to negotiating,"says Scott Testa, a business-administration professor at Cabrini College in Philadelphia.

"Consumers have nothing to lose," he adds. "If you have money to spend, you will get as good a deal as you will ever see."

Wal-Mart and Best Buy both advertise price-matching. To take advantage of it, shoppers should arm themselves with mailers and inserts before hitting the stores.

"Bring your laptop into the store," Testa says. "Show them the ad you found on Amazon with a $999 price compared to their $1,050 and ask them if there is something they can do for you."

One of the best ways to stick to a holiday spending budget is to swear off "plastic." About a fourth of holiday shoppers this year plan to pay for gifts with cash — a 9.1 percent increase over last year.

Another tip: Take advantage of social networking sites such as Facebook and Twitter for fan- or followers-only discounts.

"We run specials and contests on our Facebook page once or twice a month," says Bill Douglas, vice president of the online garage sale site swapitgreen.com.

"If you are shopping online and you notice a box for a promotional code on the checkout page, that means there is a code somewhere," says Andrea Woroch, spokeswoman for promotional codes.com and couponwinner .com. "They are available to everyone who knows how to find them and where to look."

Layaway is another way consumers are sticking to their holiday shopping budgets. This service has made a big comeback, says James Roberts, a Baylor University marketing professor who studies compulsive shopping and credit-card abuse. Like using cash instead of credit cards, layaway helps consumers avoid a financial hangover in January.

"It forces you to plan out your spending and have it paid off before the holidays," Roberts says.

Shoppers are advised to double-check layaway policies in case they change their mind about a purchase. Find out if the money is returned or whether there are cancellation or restocking fees. Some stores have a "cooling-off period" of 72 hours, which allows customers to make a down payment and then change their mind about a purchase without incurring a penalty.

10 ways to save

Avoid a financial hangover in January by following these 10 tips for being a smart holiday shopper.

1. Determine your budget: How much can you actually afford to spend on gifts without using credit cards? Then list all of your anticipated holiday expenses including greeting cards, postage, decorations, entertaining and travel expenses. Now, stick to your budget.

2. Use cash: Experts say people who use debit or credit cards are more likely to spend more than they planned.

3. Check statements: Regularly look for double charges.

4. Shop longer and later online: This year, online holiday shopping specials started as early as the first week of November.

5. Shop alone: This will allow you to compare prices and contemplate purchases without being distracted.

10. Shop with your cell: Download an iPhone app such as Save Benjis, RedLaser or TheFind for help with gift ideas and comparison shopping. Blackberry users can download an app such as Mobile Gift Center. Sheba R. Wheeler

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